The security market is constantly changing and it has never been more true than now. Dealers have to be adaptable and be able to maneuver in an ever-changing landscape if they want to remain relevant and profitable. As we have seen the market change, we have seen some companies grow and others disappear. Taking those experiences, we’ve generated some helpful tips for dealers to stay ahead of the curve, and not be left behind in the past.
Don’t Let DIY Scare Security Monitoring Dealers
This might feel like the death march for many dealers in the security monitoring business, but it doesn’t have to be. DIY is a segment of the security business, not the whole thing. Sure, people will find it less expensive or cost-effective to set up a few cameras in their house to protect their property, and that’s totally fine. But not all jobs are that simple.
The majority of the industry does require professionals to do the work. That’s why it’s not called PDIY (professional do it yourself), because there are still plenty of jobs that people simply can’t do themselves. Sure, many people can change a tire on their car, but when it comes to tire balance, wheel alignment and tire repair, you probably seek professional help. Changing tires isn’t the whole tire industry. Like DIY, it’s a small piece, but not the whole piece. Don’t pivot what your company does because of DIY.
You are Only as Good as Your Team
Technology is changing rapidly. If you want you and your business to stay relevant, you will need to keep your team trained on the newest and emerging technologies. There are many resources for training, and keeping your team up to par with emerging technologies is the key to stay ahead of the curve and maintain excellent customer service.
Don’t Price Yourself Out of the Game
In the security monitoring industry, strengthening and maintaining RMR is the lifeblood of the business. As a dealer, if you offer the best quality in installation or products, then don’t be afraid to price yourself that way. The reason being, there will always be the potential for another company to price lower than you. Ultimately, that can become a race towards rock bottom, and if you are selling your quality product and services for low-quality prices, you’ve now flipped your business model upside-down. The quality is what you are selling. There is a reason why premium car dealers like BMW and premium clothing companies like Arc'teryx are doing just fine even though the products are about as expensive as it gets.
Contracts Don’t Keep Customers
It is easy to fall into the trap of getting a customer to sign a deal with your company and then sending the services over to a wholesale security monitoring company and forgetting about the account. Today, the competition is stiffer and more savvy than ever. Contracts don’t last forever. While you are ignoring your customer, other companies are actively selling to your customers just waiting to steal them away as soon as the contract expires. Some companies will even buy a potential customer away from a current contract to get them to switch sides. Just because you have contracts on customers, doesn’t mean it’s forever.
As a dealer, you need to continue to provide excellent customer service to your customers, even though they are on contract. Upsell your current customers without being pushy. You could have potentially untapped RMR sitting on a contract right now! Don’t wait for someone else to snatch your customers away from you.
We know the market is changing. That’s why AvantGuard continually looks for ways to innovate the wholesale alarm monitoring world. AvantGuard always looks to be as efficient as possible and looks for the newest and smartest ways to provide customers with the best service possible. Reach out to see how AvantGuard provides its dealers with the best dealer care around.
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